Recovery of outstanding amount
Amit
(Querist) 07 February 2014
This query is : Resolved
My father's business is that of transportation of goods by road on contract basis, one of our parties has delayed at about more than 6 months to clear our outstanding dues & now, instead of paying interest charge for such delay, rather they are demanding to deduct some percentage of due payment on the point stating that we had charged more than reasonable in the bills, eventhough the same bills had been beforehand verified & passed by there own executive.
Now, the problem is that my father thinks that t takes along period to recover such amount through legal proceedings.
So, my question is that, is there any legal way available to us through which the same due amount could be recovered at its earliest???
Please help me out....
Guest
(Expert) 07 February 2014
Just two days ago you had posted a query on behalf of your friend regarding ICICI and today's post is with regard to whom since you had mentioned yourself as student.
Guest
(Expert) 07 February 2014
If your query is genuine first accept what they are ready to release now.Once the cheque is realised or cash is received send a legal notice and file a suit for difference amount if you wish after consulting a Lawyer.
Devajyoti Barman
(Expert) 07 February 2014
There is no short cut.
You can either accept what youa re getting or prepared for long battle to get your legitimate dues.
Rajendra K Goyal
(Expert) 08 February 2014
Accept whatever is being paid by them. Send legal notice for the remaining amount.
if the remaining amount is negligible, it should be written off. Claiming legally is time and cost consuming.
If amount is considerable file suit for recovery.
Amit
(Querist) 08 February 2014
Respected Sir,
This case concerns to my father itself. Further, I would like to thank you all for providing me with your guidance. But, still, is it assured that no other provisions exit in law for a service provider, through which direct legal proceedings & decision in less time could be acquired - such as the cheque bouncing provisions, etc.
ajay sethi
(Expert) 08 February 2014
all legal proceedings take time . some cheque bouncing cases are pendding for 5 years . there is no short cut
Guest
(Expert) 08 February 2014
Weigh the pros & cons of both, the mutual settlement on compromise and the legal hassles including cost of suit and waste of time in filing a civil suit. You may adopt the course, whichever seems to be cost and time saving for you.
R.V.RAO
(Expert) 08 February 2014
agree with sri rajkumarji.
unless u had developed any documentation safe guards like arbitration,interest for late payment etc...now the recourse foru is first accept what you get with/without discounts.then go for claim for a diff.
T. Kalaiselvan, Advocate
(Expert) 08 February 2014
